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S&P BSE Information Technology index added over 106 percent supported by the Tanla Platforms, Intellect Design Arena, Subex, Ramco System, Mastek, 3i Infotech and KPIT Technologies. The stocks from the space rose 400-1583 percent during FY21.
BSE IT settled 3.51 percent higher, gaining from the rupee's weakness against the dollar. The Indian currency traded near a three-week low against the dollar. IT stocks gain on a stronger American currency as a major portion of their revenue comes in dollar.
BSE IT index closed 1.70 percent higher. On the flip side, BSE telecom fell over a percent, so did finance, oil & gas and realty.
In November 2020, among the various sector benchmarks, top gainer was S&P #BSE Metal which rose by 24.5%, whereas S&P BSE IT saw the least growth with returns of 2.7% #StockMarketNews #StockMarket
Selling pressure was seen in the BSE IT index, which slipped 0.7 percent. The Healthcare index was down 0.40 percent and the auto index slipped 0.22 percent.
In September 2020, among the various sector benchmarks, top gainer was S&P BSE IT which rose by 10.7%, whereas S&P BSE PSU fell the most with returns of -11.8%. #MutualFunds #StockMarket
IT, Pharma sectors take the lead: Sectorally, the IT sector hogged the limelight as the S&P BSE IT index recorded gains of 34 percent in the September quarter, followed by the S&P BSE Healthcare index which was up 21 percent in the September quarter.
Resilient IT pack IT stocks were relatively resilient to the bloodbath in the market, and the BSE IT index closed flat. Sasken Technologies and Cigniti Technologies rose 9.52 per cent and 8.47 per cent, respectively.
Sectorally, the S&P BSE IT index was up 4.7 percent followed by the realty index that rose 3.8 percent and the consumer durable index closed with gains of 3.4 percent.